By establishing a strong global tender management process, companies can better shape, make, and drive value from their tenders. These challenges are prevalent across the tender lifecycle – and can have significant impacts on a company’s profitability. Incomplete, inaccurate, and untimely account, tender, and competitive data makes it difficult to analyze wins and losses, govern prices, and make better decisions.Homegrown, manually intensive tools silo information across regions and markets.Inefficient processes can result in missed deadlines or incomplete submissions.Without visibility into tender opportunities, companies cannot effectively identify opportunities early enough to craft appropriate responses.But first they must understand what makes tender management so challenging. With so much at stake, life sciences companies must find ways to reduce the complexity of managing their processes across regions, countries, and teams. Ineffective tender management processes and a lack of visibility into key metrics like win-loss rates and resulting sales can cause a company to be on the hook for an unprofitable contract or get locked out of a market for up to 36 months. The significance of tenders goes beyond sales to impact market share and overall revenue. Globally, 85% of all medtech revenue is derived from tenders, and as a result of the growth of generic drugs and vaccines, tenders now account from anywhere from 25% to 40% of global pharmaceutical revenue. These benefits have led to a growing reliance on tenders within the life sciences industry. Purchasers use tenders to obtain the best possible purchase price, while eliminating corruption and favoritism. Tenders are used all across the globe as a way of running competitive procurement processes and increasing transparency into evaluation criteria.
0 kommentar(er)
